Articles


  • SILVER - Weekly Report



    by icn.com

    Short Term trend: Bearish
    Weekly Bias: Bullish

    Silver remains confined within the tight trading range among 23.30-22.00 levels, although we have seen a sharp dip to levels near 20.00, price rebounded quickly and re-entered the same trading range. The sharp drop to 20.13 followed by the strong rebound hints a potential move higher, where we would like to see a break above 23.30 to confirm it. Overall, holding above 22.00 keeps our bullish bias valid.

    ** Short term ( Less than three months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 22.00 21.50 21.00 20.50 20.13
    Resistance 22.50 22.85 23.25 23.40 2370
    Recommendation Based on the explanations and chart above, we prefer to long above 22.00 targeting 23.20 and 24.70. Stop loss below 21.15


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